Quote:
Originally Posted by dillywho
I thought the bond repayment was tied to taxes and not the amenity fees. Does anyone know which way it is for sure? I know mine always shows up on my tax bill since we didn't pay it up front.
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I thought:
1. What most people call "the bond" (such ast 20,000 on a new house) is to pay for the initial cost of infrastructure and it is based on the length of the frontage of your property on the street so a villa is cheaper than a ranch; The total cost of infrastructure divided by all taxable frontage gives the cost per foot, then times the width of your lot equals your bond. The bond is higher for the newer villages because the cost of construction ( or improved or additional infrastructure) is higher.
2. The annual cost of maintenance called the cdd bond is to maintain part of that infrastructure, that amount varies from cdd district on an annual basis; Does anyone know how repairs for the street or the utilities in front of your house are paid for. Is there a special assessment to your personal property tax bill?
3. The amenities fees is your monthly bill to pay for the cost of maintaining pools, golf courses etc (and now I believe also to pay off a separate bond that is sold for the purchase of the land and the pool or golf course(for example) (Is this the tax free bonds referred to in the IRS preliminary ruling? ). Is that right? I sure wish this was clearer.